My Comments: Can you say esoteric? Can you say huh? Can you say obscure? The IRS recently issued a ruling, or perhaps more accurately a tax court decision made it for them that limits a persons ability to make an IRA rollover more than once in any calendar year. Used to be if you had …
Continue reading Why the IRS Wants You to Watch Your IRA Rollovers
My Comments: I recently published an eBook with the title CAPTIVE WEALTH! It explains how to use an 831(b) Captive Insurance Company to create, to grow, and to preserve wealth. While not a simple idea, it does have the blessing of the IRS if you do it the right way, under the right circumstances. That …
Continue reading Top 10 Benefits and Risks of Forming a Captive
My Comments: For many advisors, estate planning will take a back seat as the combined exemption (husband and wife) now exceeds $10.5M. That eliminates a lot of folks who nevertheless have substantial wealth. But there are still questions that should not be ignored. Here’s a quick summary that will put all this in perspective for …
Continue reading 10 Estate Planning Tax Facts You Need to Know
I’m sure you agree that we live in a world of political correctness. Sometimes that’s a good thing and many times it just gets in the way of common sense. Right now, I have to tell you I am NOT licensed or qualified to dispense tax advice. But as a financial planner, for which I …
My Thoughts: Having the IRS look closely at you is not something you are likely to enjoy. But the good news is there are fewer agents than before and unless your “mistake” is grievous, you are likely to be overlooked. But you can’t count on it. With computer technology advancing by the minute, it will …
My Comments: An area of expertise that I claim, involves a topic known as “captive insurance companies.” This concept applies to successful small business owners and the companies they own. These folks are in the news a lot lately because they get talked about in the context of the Affordable Care Act and what some …
My Comments: As a financial planner for many years, one of the skill sets I’ve tried to develop, mindful that I am not an attorney, is estate planning. Until recently, this topic was mostly focused on the “death tax issue”. When someone died, and died with a lot of money or property, the financial threat …
Continue reading ESTATE PLANNING IS NOT JUST FOR THE WEALTHY
Momentum is building for a tax code overhaul, and lower taxes on stock transactions could be doomed. By Joy Taylor, May 6, 2013 Tax breaks for capital gains and dividends are likely to end by 2015, as lawmakers look for ways to broaden the tax base, allowing income tax rates on individuals to be cut. …
PBR is the short version name of a company registered as Physicians Benefits Resources Risk Retention Group, Inc. For the past four years, I’ve invested significant time and energy with this company as I was convinced since day one ( and am still) that it had a unique value proposition. This value proposition is significant …
My Comments: From time to time, I get requests from various individuals who want to contribute an article for me to use as a blog post, giving them credit. This one is the result of such an effort. The writer has made several attempts to create an easy to read and understandable blog post. He …
Continue reading Trim Down Your Tax Obligations in 2013 Without Having to Convince the IRS
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